Investors are breathing a little easier on Thursday morning after the news that US President Donald Trump has taken the threat of a new tariff war off the table. The Danish C25 stock index is up 1.9 percent since the morning after trading opened.
All 25 stocks in the index are up. Novo Nordisk and AL Sydbank are at the top with increases of 3.6 and 3.4 percent, respectively. The C25 index fell by 2.6 percent on Monday in response to Donald Trump's threat last weekend to impose a 10 percent tariff on eight countries that thwarted his ambition to take over Greenland.
It will reportedly not come to fruition after all, after a meeting with NATO Secretary General Mark Rutte apparently changed Donald Trump's mind.
The meeting reportedly resulted in a framework agreement on the future defense of Greenland, and Donald Trump then called off the tariff threat, including in a post on Trump's own Truth Social profile.
- Based on this understanding, I will not introduce the tariffs that were planned to come into effect on February 1, Trump writes, among other things.
A U-turn that Sampension's head of equities, Philip Jagd, calls a "Trump classic."
- But having said that, it is too early to breathe a sigh of relief. Because Trump's first year in the White House has shown us that he is unpredictable and that anything can happen. We must also expect that to be the case going forward, he says in a comment on the stock rally.
After today's comeback, the index is at the level of around 1921, which is just over one percent below Friday's closing level of 1942.
/ritzau/
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